Tuesday, May 11, 2021

MGM’S LION ROARS AGAIN

November 12, 2012 by · Leave a Comment 

The success of Skyfall and the seemingly assured success of the upcoming The Hobbit has so energized MGM that the studio is likely to go public again after a long period of hardship when its very existence seemed in doubt, the London Financial Times indicated today (Monday). The newspaper, citing people close to the process, said that the studio is looking at an IPO next year. After restructuring MGM emerged from bankrptcy in 2010 when its debt holders agreed to convert their loans into equity. The two films alone are expected to rake in over $1 billion, but what MGM’s share of that take will be — it is heavily partnered in both films — will probably not be known until after the studio files its first quarter results next year.